The ability to keep alive entrepreneurial spirit among the owner-managers of family businesses is essential for the growth and development of these businesses. The unique characteristics of a family business can both foster and hinder the transmission of entrepreneurial spirit. The crucial factor in this transmission lies in the quality of interactions between the owner-manager and his/her successor. Based on the literature on the example set by the business owner-manager, we discuss how the example set by the family business owner- manager helps to successfully transmit entrepreneurial spirit to the next generation, thus contributing to the sustainability and growth of the family business.

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